Glasgow Rangers FC signal intent to go into administration.

[afleitch]

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17015966

[freefair]

Oh my. Oh my oh my. :-O
Is there's one thing sure to start a new Irish civil war (and probably a Strathclyde one), it is this!

[afleitch]

Oh my. Oh my oh my. :-O
Is there's one thing sure to start a new Irish civil war (and probably a Strathclyde one), it is this!

Culturally it will be interesting to see what happens if Rangers disappear. As a Celtic fan I have mixed opinions on their demise.

[patrick1]

Bad news- every good story needs a villain.

[patrick1]

From another forum:

Now their checks will also do the bouncy.

[afleitch]

It's official. Rangers are now in administration after Revenue and Customs called their bluff. They are deducted 10 points.
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HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
HAHAHAHAHAHAHAHAHAAAAAAA!

[Filuwaúrdjan]

It's hard not to laugh. Hearts are in trouble as well. It would be hard not to laugh at them either.

[afleitch]

Hearts should be next without a doubt. Rangers have a number of problems; they can’t pay the police to police matches, they can’t pay staff, they can’t pay clubs they owe money and Ibrox Stadium is held together by layers of paint. You don’t run up a £75m tax bill without having a huge reservoir of problems. Rangers have been in debt for the best part of 20 years and this has been overlooked while smaller clubs have been forced to economise. Celtic were minutes away from going under in 1994 for a £7m debt but were bought, invested in and have been paranoid about balancing the books ever since (they now generate a profit)

If they don’t get a CVA to protect the company then Rangers will start at the bottom of the Scottish Football League, unless rules are bent in their favour.

Do I want them dead? No. Mortally wounded? Yes.

[bore]

As a Hibs fan I'm pretty smug about this (hearts even more so) but as much as I'd like us to surge to the top of the table on the back of this ( not happening), I'm sure FC Rangers of Glasgow and FC Hearts will work their way up from division 3 soon enough. Still it'll be lovely to see tyncastle as a tesco...

[Filuwaúrdjan]

BBC story:

The administrators running Rangers have said they do not know the whereabouts of £24m which was lent to the club.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17067141

[Silent Hunter]

BBC story:

The administrators running Rangers have said they do not know the whereabouts of £24m which was lent to the club.

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-17067141

OK, that's a matter of concern.

[afleitch]

There have been some twists and turns but now it appears that HMRC intend to liquidate Rangers F.C.

More soon.

[bore]

Hahahahahahahahahahahhahahahahahahahahahahaha































That is all.

[Filuwaúrdjan]

lololololololololololololol

[afleitch]

So what now?

Rangers are likely to cease to exist. It is assumed that the new owners will retain Ibrox and other property assets. They have signalled their intention to launch Rangers as a ‘NewCo’; this club will be a new club and will not be entitled to claim itself as a successor club. It will have to re-apply for admission into the Scottish Premier League. It is probable that this will fail (8 votes are needed) It will then have to apply for admission to the Scottish Football League (starting at Division 3) which in itself is not guaranteed but is more likely. Given the costs of upkeep (and the fact the stadium is falling to bits), it may be necessary for Ibrox Stadium to be sold in the coming years.

The problem is, the SPL don’t really have rules or procedures to deal with this eventuality. By which I mean, they do, but only for small clubs (like Motherwell that briefly went into administration) not for the big two. As a result they have announced that Rangers will appear in the 2012/13 fixtures list…at least until the fate of the club is sealed.

[Phony Moderate]

From a friend of mine on Facebook:

You must be logged in to read this quote.

[k-onmmunist]

[bore]

Why do you say that?

[bore]

The vote on letting SEVCO into the SPL is now officially scheduled for the 4th of July, so we'll soon know one way or the other. Also seeing as we all like politics, here is a useful summary of the individual clubs positions on SEVCO: http://www.bbc.co.uk/sport/0/football/18422397

[afleitch]

Quick Update

Rangers F.C has ceased to be, it is due to be liquidised. However Charles Green has purchased Ibrox, the club crest and various other assets establishing a team called ‘The Rangers.’ The club has applied for registration with the SFL and the SPL. The SPL has released it’s fixtures list for 2012/13 containing ‘Club 12.’ On July 4th, all 12 clubs, including the old Rangers vote on whether to allow ‘The Rangers’ in. They need 8 votes in favour. If they are rejected, Dunfermline become ‘Club 12’ and every relegated club moves back up to the league they were in last year leaving a slot in Division 3 which The Rangers can apply for (of course, there is no guarantee that they will be successful)

However there are talks of merging the SFL and the SPL creating a super ‘SPL2’ league of which The Rangers may be a part.

At present, ‘The Rangers’ are out of Europe for three years (as UEFA require 3 years worth of accounts)

So what of ‘Rangers FC?’ Well they are still under investigation. While ‘The Rangers’ don’t have a right to retrospectively claim the history of the now liquidised club, should fans wish to try and claim that legacy then they should know that Rangers FC are now charged with the illegal registration of players and making payments to players out of sight of the football authorities. Therefore, the likely penalty to the old club will be the stripping of league titles and other silverware stretching back some 10 years. Which means ‘12 in a row’ Celtic fans

[bore]

5 clubs have now said no to the newco, their players are leaving like rats on a sinking ship and even the newco has no money at all. There is no way they are in the SPL next season, at best it will be third division and even that is in doubt. This is beautiful.

[True Federalist (진정한 연방 주의자)]

Is there any possibility whatsoever for the Celtics to leave the SPL or is it conceivable that one of the Edinburgh clubs could take the place of the Rangers?

[bore]

Is there any possibility whatsoever for the Celtics to leave the SPL or is it conceivable that one of the Edinburgh clubs could take the place of the Rangers?

There is no way Celtic can leave, they've been trying to get into England for years now but no one wants them. Of the Edinburgh clubs Hearts are going the way of rangers and Hibs (maybe I'm slightly biased) are financially secure but have had an awful record in the last few seasons. It's possible Hibs, Dundee United or Aberdeen could challenge Celtic but it's unlikely there would be quite the level of poisonous rage and anger between the two. What's likely to happen is Celtic win everything for the next few years, but the other clubs become more competitive while Rangers gradually work their way up. Although even when they eventually do reach the SPL the league will be completely different: it will have a fairer allocation of money more teams and a better voting system. Basically Rangers downfall is the best thing to happen to Scottish football for a long long time.

[Filuwaúrdjan]

...especially as they're more responsible than most for turning into the deeply unfunny joke that it is at the moment.

[bore]

I should probably stop re bumping this thread, although hopefully this will be the last time. 

Because now the SPL has stopped Rangers newco entering the SPL by a vote of 10-1-1. Also they are unlikely to enter SFL1 because only 2 more clubs need to declare to block them and of the declarations so far its 12-1. But perhaps the most beautiful part of this very beautiful saga, is of the clubs who are declared no votes, one, Cowdenbeath, is run by the charming Donald Findlay.